How it is deactivated is described here.

The steering wheel buttons and display in cars without speed limiter A Volvo dealer has updated information about what applies in each respective market..

The steering wheel buttons and display in cars with speed limiter A Volvo dealer has updated information about what applies in each respective market..
The cruise control is switched off with the steering wheel button (1) or by switching off the engine - the stored speed is deleted from the memory and cannot be resumed with the button.